BUSINESS

Mbonu Was Never Our MD-Heritage Bank

Daily Dispatch March 29, 2017

Heritage Bank has denied the report that Robert Mbonu was the Managing Director Heritage Bank, saying he left the bank as Executive Director in 2015. The bank also disowned a report by the Economic and Financial Crimes Commission linking the bank to the controversial $19 billion said to have

BUSINESS

Mining to contribute $25b to economy – FG

Daily Dispatch March 29, 2017

The Federal Government says mining will contribute $25 billion to the Gross Domestic Products by 2026. Dr. Kayode Fayemi, Minister of Mines and Steel Development, disclosed this at the Nigerian Mining and Geosciences Society annual conference on Tuesday in Abuja. Fayemi said this would be achieved due to green shoots of growth recorded in the […]

BUSINESS

Agriculture, solid minerals can pay Nigeria’s debt — Ogbeh

Daily Dispatch March 28, 2017

Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, says foreign exchange from agriculture and solid minerals could service the country’s debt and loan profile. Ogbeh made the assertion on the sideline of the National Agribusiness Youth Training Programme funded by the Federal Government and the African Development Bank (AfDB) in Abuja on Tuesday. […]

BUSINESS

FG Borrows $6.1bn From China For Rail Projects

Daily Dispatch March 27, 2017

Federal Government borrow $6.1bn from Chinese Exim Bank to complete all rail projects in the country by 2019. The Minister of Transportation, Mr. Rotimi Amaechi, disclosed this on Monday in Abuja. In a statement issued by the ministry’s Director of Public Relations, Yetunde Sonaike, Amaechi was said to have made this known during the ministry’s […]

BUSINESS

I will resign if Abuja airport is not reopened after six weeks – Aviation Minister

Daily Dispatch March 27, 2017

The Minister of State for Aviation, Senator Hadi Sirika, has declared that he would resign if the repair of Nnamdi Azikiwe International Airport (NAIA) runway was not completed in six weeks as planned. He spoke alongside Minister of Information, Alhaji Lai Mohammed, on Monday who accused some people of spreading misinformation about the repair. The […]

BUSINESS

BDCs incur forex losses as black market Naira firms

Daily Dispatch March 27, 2017

Nigeria’s Bureau De Changes (BDCs) have incurred forex losses from dollars sourced via the Central Bank of Nigeria after the value of the Naira on the black market rallied following interventions on the official market, the BDCs’ head said on Monday. Bureaux de Change operators sold dollars bought from the CBN to individuals at 399 […]